New report on Implantable Drug Delivery Devices are the medical devices, which enable site specific drug administration. It also helps in minimizing the doses of drug in order to reduce potential side effects. These devices facilitate sustained release of a therapeutic agent. These implantable devices are gaining edge over conventional oral or parenteral dosage forms due to site specific and sustained release therapeutic action of implantable devices, which further minimize the side-effects associated with the drug.

The major factors driving the growth of this market are growing incidences of target disease such as diabetic retinopathy, prostate cancer, cardiovascular diseases and chroni diseases. Rising cases of unwanted pregnancies and growing aging population also supplement the growth of this market. However, cost associated with the use of these devices has restricted the market growth.

Global implantable drug delivery devices market by technology is segmented into Biodegradable implantable drug delivery device technology and Non-biodegradable implantable drug delivery device technology. Biodegradable technology is expected to grow faster as compared to Non-biodegradable, as biodegradable technology reduces side effects associated with the presence of device in the body and does not follow the process of surgery in removing a device from the body.

Global Implantable Drug Delivery Devices Market by Application

Global implantable drug delivery device market by application is segmented into Ophthalmology, cardiovascular, Birth control/contraception, Oncology and others. The market of implantable drug delivery devices is largest in cardiovascular application due to the introduction of absorbable stents devices.